Edwards Lifesciences (NYSE:EW) Price Target Raised to $88.00

Edwards Lifesciences (NYSE:EW) had its price target boosted by Barclays from $85.00 to $88.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

EW has been the subject of a number of other research reports. Sanford C. Bernstein upgraded shares of Edwards Lifesciences from a “strong sell” rating to a “hold” rating in a research report on Monday, October 28th. Oppenheimer reiterated an “outperform” rating and set a $90.00 target price on shares of Edwards Lifesciences in a research report on Thursday, September 12th. UBS Group cut their target price on shares of Edwards Lifesciences from $90.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 10th. Jefferies Financial Group lowered shares of Edwards Lifesciences from a “buy” rating to a “hold” rating and cut their target price for the stock from $85.00 to $70.00 in a research report on Wednesday, September 18th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $70.00 target price on shares of Edwards Lifesciences in a research report on Friday, October 11th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $77.25.

Edwards Lifesciences Price Performance

EW opened at $74.21 on Monday. The firm has a market cap of $43.77 billion, a P/E ratio of 10.71, a PEG ratio of 3.97 and a beta of 1.12. The firm has a 50-day moving average of $68.42 and a 200 day moving average of $74.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.89 and a current ratio of 3.46. Edwards Lifesciences has a fifty-two week low of $58.93 and a fifty-two week high of $96.12.

Edwards Lifesciences (NYSE:EW) last posted its quarterly earnings results on Thursday, October 24th. The medical research company reported $0.67 earnings per share for the quarter, meeting the consensus estimate of $0.67. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.57 billion. Edwards Lifesciences had a net margin of 70.82% and a return on equity of 20.76%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, research analysts expect that Edwards Lifesciences will post 2.57 EPS for the current year.

Insider Activity at Edwards Lifesciences

In other Edwards Lifesciences news, insider Larry L. Wood sold 25,000 shares of Edwards Lifesciences stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $65.91, for a total transaction of $1,647,750.00. Following the transaction, the insider now directly owns 198,526 shares of the company’s stock, valued at approximately $13,084,848.66. This trade represents a 11.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Donald E. Bobo, Jr. sold 5,000 shares of Edwards Lifesciences stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $66.77, for a total transaction of $333,850.00. Following the transaction, the vice president now directly owns 46,936 shares in the company, valued at $3,133,916.72. This trade represents a 9.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock valued at $2,657,000 over the last three months. 1.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EW. Park Avenue Securities LLC grew its holdings in shares of Edwards Lifesciences by 0.5% in the second quarter. Park Avenue Securities LLC now owns 23,484 shares of the medical research company’s stock worth $2,169,000 after purchasing an additional 108 shares during the last quarter. Stableford Capital II LLC grew its holdings in shares of Edwards Lifesciences by 2.7% in the second quarter. Stableford Capital II LLC now owns 6,104 shares of the medical research company’s stock worth $533,000 after purchasing an additional 159 shares during the last quarter. Purus Wealth Management LLC grew its holdings in shares of Edwards Lifesciences by 5.2% in the second quarter. Purus Wealth Management LLC now owns 3,212 shares of the medical research company’s stock worth $297,000 after purchasing an additional 160 shares during the last quarter. Busey Bank grew its holdings in shares of Edwards Lifesciences by 1.9% in the second quarter. Busey Bank now owns 8,838 shares of the medical research company’s stock worth $816,000 after purchasing an additional 165 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in shares of Edwards Lifesciences by 7.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,415 shares of the medical research company’s stock worth $224,000 after purchasing an additional 166 shares during the last quarter. 79.46% of the stock is owned by hedge funds and other institutional investors.

About Edwards Lifesciences

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.